Asset Retirement Obligation

9 Months Ended

Sep. 30, 2016

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation

7. Asset Retirement Obligation

The Company records a liability for the estimated costs to be incurred in connection with the abandonment of oil and natural gas properties in the future. This liability is included in the caption “other” in the liabilities section of the condensed consolidated balance sheet. The following table describes the changes to the Company’s asset retirement obligations during the nine months ended September 30, 2016 and 2015 (in thousands):

	Nine Months Ended
	September 30,
	2016			2015
Balance at beginning of year	$	5,692		$	5,301
Liabilities incurred		84			322
Liabilities settled		(74	)		(118	)
Accretion expense		126			129
Revision in estimated costs of plugging oil and natural gas wells		42			—
Asset retirement obligation at end of period	$	5,870		$	5,634